The End of Laissez-Faire

"The End of Laissez-Faire" is a seminal essay by the influential economist John Maynard Keynes that explores the evolution and eventual decline of the principle of individualism in economic policy. Keynes traces the history of the doctrine, examining how the concept of a self-regulating market became the dominant orthodoxy and why, by the early 20th century, it had become inadequate to meet the complexities of modern society.

In this provocative work, Keynes argues that the "natural" harmony...